Discount Store

Beachwood, Ohio — Nordstrom Rack will open locations at Lake Brandon Plaza in Brandon, Fla., and Harbison Court in Columbia, S.C., this fall. DDR Corp. owns and manages both centers.

Chicago  — R.P. Wurster has acquired the 49,967-sq.-ft. Plainfield Commons in Plainfield, Ind., for $6.35 million. The 100% leased community shopping center features anchor tenants Dollar Tree and Shoe Carnival. Shadow anchors include Target, Kohl’s, Pier One Imports and PetSmart.

Mid-America Real Estate Corp. in cooperation with Mid-America Real Estate Corp. — Indiana brokered the transaction on behalf of the seller, RPD Catalyst.
 

Stein Mart has elected Burton M. Tansky to the company's board of directors. Tansky was with Neiman Marcus for 23 years, retiring as president and CEO in 2010.

Before being named as CEO for the Neiman Marcus Group in 2001, Tansky was president and CEO of Neiman Marcus Stores. Prior to this he served as CEO of Bergdorf Goodman, a division of the Neiman Marcus Group, and as president of Saks Fifth Avenue.

Seattle – Nordstrom plans to open a Nordstrom Rack store at Harbison Court in Columbia, S.C., and another at West Towne Crossing in West Towne, Wis. The approximately 34,000-sq.-ft. Columbia store and 30,750-sq.-ft. West Towne store are both scheduled to open in fall 2014.

When it opens, the Harbison Court Nordstrom Rack will be the company's second location in South Carolina, following the recently announced location in Greenville that will also open in fall 2014.

St. Petersburg, Fla. — Forge Real Estate Partners III, co-sponsored by the Sembler Company and Forge Capital, has formed a joint venture with East Coast Acquisitions and acquired Tarrymore Square in North Raleigh, N.C.

Tarrymore Square is a 256,805-sq.-ft. shopping center with a 65% occupancy rate. Existing tenants include Walgreens, Rugged Warehouse, Surplus Warehouse, Rainbow Fashions, Rent-A-Center and Miller-Motte Technical College.

Perhaps no single brand had a holiday season quite as rocky as Sears. When the retailer announced a string of bad news on Jan. 9, shares of Sears Holding Corp. (which includes both Sears and Kmart) went through the floor. Holiday sales at Sears stores were down 9.2% in the nine weeks prior to Jan. 6, a brutal figure when you consider that overall retail sales were up slightly over the holidays (which I’ll discuss more in my next column).

City of Commerce, Calif. — 99¢ Only Stores will open a new 20,000-sq.-ft. Las Vegas location on Jan. 23. The new store will feature a perishable food department, with produce, dairy and frozen foods.

The new store will kick off its grand opening celebration by selling Westinghouse 40-in. flat-screen TVs for only 99 cents to the first nine customers in line. In addition, anyone in line by 7:45 a.m. will receive a raffle ticket for a chance to win the tenth Westinghouse 40-in. flat-screen TV.

Covington, La. — JCH Development and Stirling Properties have broken ground on Magnolia Marketplace, a 106,000-sq.-ft. shopping center in New Orleans, at the intersection of South Claiborne Avenue and Toledano Street.